St. Landry democrat., 1887-11-26

OF mississippi derived, what a noble instltu-
tlon mas sne not built UP, and how
TRIVIAL AND DECREpID
| ls our own.
Vow, suppose We admit that Governor
| McEnery has done everything he could do
| lnr the schools and for ths university this
| does not effect the question which am Gi3-
! c"ssng. am meeting tile claim that these
| nave been so successful that we oilyht To
I give MIN third term. L am saying that
| they are failures whatever may have been
| his eXertlOna. | am willing to grant for rha
| purposes OF discussion anything that tue
| warmest friend he has can claim; it does
| DOL IN any way obvlate the alb -ulute demon
statlOn that both the school system aud
university are failures. If they sre failures
| we should not create 81 third term because
! they have been successful
Financial Situation.
| 1t has been said that the solid financial
condition of the state requires thar VIZ
| should violate the third term principle.
| What IS the situation of the state from a
! financial point OF view! Wien Governor
| McEnery cane into office we had a Bonded
| debt. Has IL been naiif Certainly uot-pDt
d dollar OF it. Ii is true that the interest
| has been increased by wise consultation al
amendment ana that the Increased interest
| EaS been pad. buL with great difficulty
| Everybody knows that year by year as Ii
| became due great anxiety was created IN
| the pubic MUD as to Its payment. AFRO the
value OF The public securities Of the state Of
Louisiana so high IS 10 create the impress
| sion That our financial condition is sound /?
| On the contrary. they are
LOWER THAN THOSE OF ANY OTHER SOUTH
EEH SAFE.
| Take the state of North Carolina whose 4
! per cent bonds are worth a premium. OuTs
| 90 TO g02.
| In recent speech by Governor McEnery
| the following expressions occurred:
line finances or this state have Improved :;
the assessed values nave increased from
Sl55, O0O, 900 to S2l7 900 ,000 collections CT the
revenue nave advanced from 49to TO 90 per
| cent. The Interest on the pubic debt Is
| promptly paid and The state is practically on
| ca5n basis"
| AS | have just SAID. not dollar Of the
| principal OF Tue pubic debt has been paid
and the interest has been net Win sUme
difficulty.
besides this consolidated debt there IS
another Class of bonds called the paby
bonds, winch bouds amount 10 over 81, 400,
| uuO. ne interest Gu tncso ponds is nov in
default and has been SO for some ,ime. IL
his last message 10 the general assembly the
governor said on the subject:
II arranged Tor the payment of the inter
est Ton the baby boAis) IN order that the
non payment may not affect the credit OF the
state, but | soon became ware OF the fact
tnat this would have to be done every time
the interest became due and as long as the
bonds should be Ill existence, ana
THEREFORE CEASED TO SOLICIT
any further advances to meet the interest"
How can the state he SAID TO lie upon q
casa basis IN the face of these facte. These
baby bonds arc payable out OF certain back
taxes.
Iu the same message OF the governor will
be found d statement that In order to collect
THESE back taxes S45,0U0 Of money had been
expended III costs and charges 10r tho sale
OF property assessed at f65,G0J
but lot Us see II the deoU has Increased in
otEer particulars. From 1854 down to 1856
tleanuual appropriations have exceeded tho
revenues. thus for 1854 the outs andlnE war
rants erb &lU4 ZIP. For 1855, Sl6Z.430; tor
1855, S2lo,liS; inahlng d total VI sio5 $40.
Tue price OF those warrants nnu quoted
for l6si at IS cents, for 1855 at Is cents aud
for 1856 al 80 cents. Do not the figures which
1 nave jIst given represent an increase uf
the deDG and does hot the quotabie price Of
the warrants show d low pnouc create
How can We say the state is on d cash
basis when these Things exist.
Now call attention 10 the fact that the
constitution of 1879 contains in II a provision
authorizing the veto OF any particular Item
IN the appropriation bill and therefore put IL
WITHIN THE POWER OF THE GOVERNOR
to keep the appropriations within the rev
cuaes.
10 his last message to the general assem-
bly, the governor recommended converting
the baby bonds into state bonds and the
warrants against the general fund Of "a and
% " bICiI "SiS Outslauu4uk
Inis recommendations necessarily includes
the levyIng OF d tax to pay the bonds.
1t is THIS financial condition which is made
a basis of the claim that We should create d
third term,
Gentlemen may say that our rate OF taxa
tl0n Is very low.
IT Is HIGHER
than in any other southern state except Ala
uama. where it Is the same as here, or mills.
In Arkansas IL Is mills, IN Florida f. IN
Georgia 3t2, in Mississippi 80, North Caro-
lima Pr, Sou0h Carolina 54, Texas 80, Ten
uessee 3, Virginia 4, Louisiana 6. LII other
words. our taxation Is higher than that in
any otner southern state except Alabama.
Ia most of these states where taxation is
lower than in ours they nave noC d source OF
revenue which we have, and which IS large
" unkuowpto them except az applet to the
liquor trattic-that Is the llcense system.
Not only 10 our rate OF taxation higher than
10 the other states, but we have also the
license TAX. | have stated to you
GOVERNOR M'ENERl's RECOMMENDATIONS
for the funding Of the warrants into bonds,
whlcl | think means AN Increase or taxation.
Here is his recommendation for an increase
uf the license tax: Tine necessities OF the
state viii require an increased revenue, and
the best source from which TO secure sucn
Increase IS from licenses.
la view or this plain statement OF faotS.
what foundation is there for the contention
that We should accord third term because
OF the prosperity or our financial affairs ! III
the debt from 1884 has gone on accommodating
to this sum of nearly 100000. If the interest
on the baby bonds which Is unpaid has been
increasing from year TO year. ana has led to
the recomme udalion of the governor for an
increase OF taxes and licenses,
WHAT WILL BE THE RESULT
II we continue this course for four or five
years more!
[ repeat, that admitting that Governor
McEnery has done everything he could for
the finances Of the state except veto the ap-
preparations in excess OF revenues, admit
that he has been an honest offclal-l concede
tive are discussing not that question but
whether his administration mas been tiDan-
cial success.
II was said In one of the speeches at Mon
roe or shreveport that the people OF the state
were Invited TO come together and
have glorious jubilee over the magnificent
condition OF their schools. the sound condt-
ton Of their finances. II they did We would
nave To call in the doctor and hold con,
sultation over the perlshlng schools and
lauguishing finances. Now, am discussing
the question not whether everything has
been done that could have been done, but
whether what has been done
REDOUSDED TO TIE ADVANTAGE
of the state. and has led to the success
which ia claimed for 1t.
Now, my own opinion on state finances are
! nope known. | believe in sustaining and
sIeyatiug the pu0lic faith and the public
credit 10 every honorable way and by every
sacrifice trust the future will bring forth
Improvement IN the present condition. The
first step In my opinion IN that direction Is
70 keen expenses within revenues. The CON
stitution affords the means of doing so. Our
securities should be as high i'll the markets
of the world as those Of any other state. Ii
Governor Nichols Is elected no doubt his
efforts will be directed to give them this
rank.
Other Reasons Urged in Favor of a
Third Term
Recently distinguished lawyer. in his
speech at Shreveport. said that Governor
McEnery ought to be renomlnated because
the people opposed TO him had been abusing
him. Now, from the same platform the
innlor senator from this srate, MIR. Eustls,
said he need not enter into defense OF GOV
Mo. Nfaln n h In